All Life Insurance Tips

What is the best and inexpensive whole life Insurance?

What is the BEST, inexpensive WHOLE life Insurance I can get for myself AND my daughter. She is 1, and i am 19. I really need it to be on the cheap side, but have great coverage! Thanks!

Public Comments

1. At your age, all insurance is relatively inexpensive. I'd argue you don't want "whole life", but "permanent" coverage. You can get that less expensively with a Universal Life (UL) policy. Mutual of Omaha and Foresters both have good UL policies with long guarantees. If you need more guidance, drop me a message and I'll help you find someone who can help you. Generally speaking, all companies will offer about the same rate for equivalent coverage, so beware if someone shows you a number that's drastically lower than others - it has to be a different kind of coverage.
2. Insurance premiums vary from company to company. You not only want to look at your cost but the build up of cash as time goes by. I'm sure that you may need some of that money to help your daughter get through college and/or life. To get free quotes for life insurance visit http://INeedHealthCareBenefits.com/index.htm. You can submit a request for a free quote to as many companies as you'd like
3. There is almost no possible situation in which getting whole life insurance would be the correct decision. The parent of a one-year-old needs more life insurance than the amount of whole life insurance that a teenager can afford, so you will need term life insurance (which is much less expensive) for yourself, because getting term life insurance is the only way that you can afford to get enough. There is probably no need to insure her life at all, especially if you cannot afford to spend very much on life insurance, because insuring your life is much more important than insuring hers.
4. 'BEST, inexpensive WHOLE life Insurance' is an oxymoron. If you're going to buy a whole life insurance policy then you're not going to want to put the least amount of money into it. You're going to want to put the MOST amount of money into it. That's why whole life gets a bad rap, because it is sold and bought wrong. You likely just want EITHER a 30 or 40 year term policy, or a universal life policy with coverage to last to age 100. That being said, and being only 19 and assuming that financially you're not in one of the higher tax brackets a 20 year term might also serve as an appropriate alternative solution. Just make sure it's convertible should your health change later in life.
5. http://lifeinsuranceestimate.info has a form you fill out and they will show you the cheapest prices on life insurance providers.
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